IMPACT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
IMPACT
Largest movements
- Tangible fixed assets -€21,273
down €21,273 (-23.9%), from €88,974 to €67,701
- Cash +€20,608
up €20,608 (+46.4%), from €44,454 to €65,063
mainly Net result for the year (+€46,399) and Depreciation (+€22,578)
- Receivables within one year +€16,022
up €16,022 (+45.3%), from €35,405 to €51,427
of which Trade receivables: +€15,583
- Advances received -€49,098
no longer reported in 2025 (was €49,098)
- Profit (loss) carried forward +€46,399
up €46,399, from -€33,737 to €12,662
- Tax, wage and social debts +€18,918
up €18,918 (+59.1%), from €31,990 to €50,908
of which Taxes: +€17,627
- Debts after one year -€4,086
down €4,086 (-10.1%), from €40,299 to €36,214
- Trade debts +€3,253
up €3,253 (+1,113%), from €292 to €3,545
- Gross operating margin +€76,065
up €76,065 (+45.6%), from €166,915 to €242,980
- Taxes +€18,299
up €18,299 (+11,132%), from €164 to €18,463
- Staff costs +€10,359
up €10,359 (+7.4%), from €140,113 to €150,472
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €168,937 | €184,545 | +€15,608 | +9.2% |
| Fixed assets | 21/28 | €89,078 | €68,055 | -€21,023 | -23.6% |
| Tangible fixed assets | 22/27 | €88,974 | €67,701 | -€21,273 | -23.9% |
| Land and buildings | 22 | €37,719 | €33,528 | -€4,191 | -11.1% |
| Plant, machinery and equipment | 23 | €25,529 | €17,950 | -€7,579 | -29.7% |
| Furniture and vehicles | 24 | €25,726 | €16,223 | -€9,503 | -36.9% |
| Financial fixed assets | 28 | €104 | €354 | +€250 | +241% |
| Current assets | 29/58 | €79,859 | €116,490 | +€36,630 | +45.9% |
| Amounts receivable within one year | 40/41 | €35,405 | €51,427 | +€16,022 | +45.3% |
| Trade receivables | 40 | €971 | €16,555 | +€15,583 | +1,604% |
| Other amounts receivable | 41 | €34,434 | €34,873 | +€439 | +1.3% |
| Cash at bank and in hand | 54/58 | €44,454 | €65,063 | +€20,608 | +46.4% |
| Total equity and liabilities | 10/49 | €168,937 | €184,545 | +€15,608 | +9.2% |
| Equity | 10/15 | €45,875 | €92,274 | +€46,399 | +101% |
| Contributions | 10/11 | - | €500 | +€500 | |
| Reserves | 13 | €79,612 | €79,112 | -€500 | -0.6% |
| Non-distributable reserves | 130/1 | €550 | - | -€550 | |
| Other | 1319 | €550 | - | -€550 | |
| Distributable reserves | 133 | €79,062 | €79,112 | +€50 | +0.1% |
| Profit (loss) carried forward | 14 | -€33,737 | €12,662 | +€46,399 | |
| Amounts payable | 17/49 | €123,062 | €92,271 | -€30,791 | -25.0% |
| Amounts payable after more than one year | 17 | €40,299 | €36,214 | -€4,086 | -10.1% |
| Financial debts | 170/4 | €40,299 | €36,214 | -€4,086 | -10.1% |
| Amounts payable within one year | 42/48 | €82,763 | €56,057 | -€26,706 | -32.3% |
| Financial debts | 43 | €1,383 | €1,383 | = | 0.0% |
| Credit institutions | 430/8 | €1,383 | €1,383 | = | 0.0% |
| Trade debts | 44 | €292 | €3,545 | +€3,253 | +1,113% |
| Suppliers | 440/4 | €292 | €3,545 | +€3,253 | +1,113% |
| Advances received on contracts in progress | 46 | €49,098 | - | -€49,098 | |
| Taxes, remuneration and social security | 45 | €31,990 | €50,908 | +€18,918 | +59.1% |
| Taxes | 450/3 | €14,695 | €32,321 | +€17,627 | +120% |
| Remuneration and social security | 454/9 | €17,295 | €18,586 | +€1,291 | +7.5% |
| Other amounts payable | 47/48 | - | €221 | +€221 | |
| Remuneration, social security and pensions | 62 | €140,113 | €150,472 | +€10,359 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,625 | €22,578 | -€2,047 | -8.3% |
| Other operating charges | 640/8 | €2,942 | €3,303 | +€361 | +12.3% |
| Non-recurring operating charges | 66A | €219 | - | -€219 | |
| Gross operating margin | 9900 | €166,915 | €242,980 | +€76,065 | +45.6% |
| Operating profit (loss) | 9901 | -€984 | €66,628 | +€67,612 | |
| Financial income | 75/76B | €266 | €467 | +€201 | +75.7% |
| Recurring financial income | 75 | €266 | €467 | +€201 | +75.7% |
| Financial charges | 65/66B | €2,410 | €2,233 | -€177 | -7.4% |
| Recurring financial charges | 65 | €2,410 | €2,233 | -€177 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,128 | €64,862 | +€67,990 | |
| Income taxes | 67/77 | €164 | €18,463 | +€18,299 | +11,132% |
| Profit (loss) for the period | 9904 | -€3,292 | €46,399 | +€49,691 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,292 | €46,399 | +€49,691 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.